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The Bank of England kept its main rate at 5.25%, the highest level since August 2023 and near a 16-year high. The nine-member committee split, with two members voting for a hike and one for a cut, and Governor Bailey said inflation must fall clearly to the 2% target before cuts.
A firm UK rate stance supports sterling and keeps UK borrowing costs high. The link to feed commodity prices is indirect.
timescolonist.comPan Pylas, The Associated PressFeb 1, 2024Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
